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I'm someone who's undergone a complete life/self overhaul. I'm now a professional in my dream job, balancing an amazing relationship, a healthy body, a healthy self image, my passions, my family and surrounding myself with good people. It's hard, not gonna lie. But I'm here to help, to inspire and say "you're not alone."

Me, today. 4.26.12: Female Financial Paradox

Today I feel lazy, like I’d love to be able to not work, do what I want – don’t we all? And that actually got me motivated to take action. Actions like finding out how I can invest and let my money make more money without me having to touch it. A large part of my financial success has been planning and focus on building wealth, but I need to do more of it.

I found out that WOMEN COULD BE THE RICHER SEX, BUT THEY NEED TO SHIFT FOCUS TO BUILDING WEALTH. The article came from DailyWorth (wonderful online community of women that share financial advice) talking about TIME magazine’s article on the Female Financial Paradox. I’ve chopped it down to a quick 5 min excerpt from Daily Worth’s post on TIME’s article below.International Money Pile in Cash and Coins

This week’s TIME cover feature explores an amazing phenomenon: Women could soon outpace men as the primary household earners. What they’ve missed is the powerful story within this trend: Female breadwinners may be on the rise, but women are not poised to become “The Richer $ex,” as TIME’s cover boasts. Far too many women are stuck in a financial time warp where managing money means being frugal, not building wealth. A DailyWorth survey last month of more than 10,000 women captures the disconnect between women’s view of themselves as financial decision-makers—and their actions. While 90% of respondents identify themselves as the chief bill-payer and purchaser, and 76% say they’re the primary retirement planner, a full 60% admit their investing and planning skills are

below average. Worse, less than half of the responding women actively seek out financial resources for assistance.

While women could be the richer sex, thanks to the economic gains and societal changes called out in TIME’s story, it’s time for women to shift focus from budgeting and couponing to building net worth.

What do you do to solve this paradox? Tell me your tips that you’ve found successful.

Here’s how to start:

1. Change your mindset to wealth BUILDING activities instead of wealth SAVING activities. If you stay in saving mode, you are hanging on to as much of your paycheck  as you can but, you will never have more money than you earn.

2. Start educating yourself.

                Understand the basic terms: http://www.dummies.com/how-to/content/basic-financial-terms-in-mintcom.html

Understand the basic principles of personal finance: http://www.planyourescape.ca/personal-finance-101-an-introduction-11

What do you think of the articles? Have questions? Want to see more articles? Post a comment or question!
See the full DailyWorth article here: http://dailyworth.com/blog/1168-The-Female-Financial-Paradox


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